Deutsche Telekom Q2 exceeds expectations

Deutsche Telekom, Europe’s biggest telecom company, has posted quarterly results that topped expectations, with a 9 per cent rise in core profit powered by strength in the US and modest gains in Germany and Europe.

The German telco lifted up its 2017 outlook for core profit to around €22.3 billion from €22.2 billion.

Q2 results were driven by the contribution from its T-Mobile US business, 64-per cent controlled by Deutsche Telekom, which last month said it added more than a million customers for the 17th quarter in a row.

Entertain, the company’s domestic IPTV platform added 69,000 new subscribers in the quarter. In total, Entertain had 3.024 million customers on June 30th 2017 – an increase of 9 per cent from Q2 2016.

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